Atlantic City casino industry reports double-digit profit increase in 3rd quarter

November 22, 2019 Press of Atlantic City

By David Danzis

The gaming industry reported a strong third quarter profit increase Friday, with the resort’s nine casinos posting a double-digit rise over last year. Gross operating profits for the three-month period increased $26.5 million, or 12.5%, compared to the same period in 2018, according to data from the state Division of Gaming Enforcement. The $239.4 million in gross operating profits — the widely accepted measure of industry profitability — is the strongest reporting period for Atlantic City casinos since the third quarter of 2017. The third quarter results, which include the months of July, August and September, are the industry’s first opportunity to compare a nine-casino market following the simultaneous openings of Hard Rock Hotel & Casino Atlantic City and Ocean Casino Resort in June 2018.